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Foundry Group  CERTIFIED

Suspicious Reviews Warning:
TheFunded.com algorithm or a Member has detected highly suspicious review activity by the following organization(s). In the majority of cases, the organization in question has pressured CEOs to write favorable remarks and contribute favorable ratings. Readers are advised to interpret the reviews with caution. This warning will expire on April 15, 2011.

Firm Rating:

Rated 4.4 / 5.0 by 22
Track
Record
4.8
Operating
Competence
4.7
Pitching
Efficiency
4.6
Favorable
Deal Terms
3.5
Execution
Assistance
4.4

Firm Homepage:

FIRM OVERVIEW: Large Private VC founded in 2007 based out of Boulder, CO (US Central)

FIRM DESCRIPTION: Foundry Group is a venture capital firm focused on investing in early stage information technology companies.

TEAM MEMBERS: Brad Feld, Jason Mendelson, Ryan McIntrye, Seth Levine,

1
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0
Disagree

Responsive but Focused

Fund: Foundry Group

Posted by Anonymous on 2012-01-05

PUBLIC:

Pay attention to the "Themes" part of their website. Basically ignore the portfolio. They are very focused on their "Themes". If you don't fit they almost certainly are not interested.

PRIVATE: Members Only

5
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0
Disagree

Foundry Rocks

Fund: Foundry Group

Posted by tschesnok on 2011-02-07

PUBLIC:

We pitched to 30+ firms for our B-Round in 2009 and got a good dose of the VC world. Some good, some not so much. Foundry was the only firm where we did not have a direct intro. I started reading Brad's blog and felt that they really understood our space. An email, a phone call, a meeting with Brad, then a meeting with everyone and a term sheet within a month. The best part, a year+ into the investment - they really are who they appear to be on their blogs.

PRIVATE: Members Only (802 Characters)

8
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4
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Brad Feld is a VC Rock Star

Fund: Foundry Group

Posted by Successful Entrepreneur on 2011-01-01

PUBLIC:

I have known Brad Feld since about 1990, when he was recently out of MIT and running Feld Technology. He has a deep technical background in software and IS design, and he became convinced as early as 1994 that "the Internet will take change the world."

Brad is great! Very honest and straight forward, no B.S. Foundry Group is clearly the top VC firm in Colorado.

WIth most VCs an introduction is almost a necessity. An introduction would obviously help with Brad but is much less necessary, I think. The reason is that Brad has already done a lot of pre-thinking and already knows the sectors he is interested in and the approach that he thinks people should take. So more than most VCs, he will already be up the learning curve. The downside is that you might have a great idea outside his areas of interest, and if so, I suspect he might turn you down even if it will be the next Google. So one way to approach him would be to send a one pager, revealing no confidential information. If it is an area he is not interested in, then he will turn you down very quickly and you don't have to worry about having revealed anything. On his website and the sites of Foundry Group and his partners, they talk about the themes they are interested in, so see if you fit within one of those themes. If you do not, there is still no harm in sending a one pager.

Foundry Group will invest at the seed or Series A stage, I don't think they have a preference. They say they are syndication agnostic so they will not care whether you have another VC to invest. In other words, they have no problem being the lead, I strongly suspect they prefer being the lead.

Brad is very product oriented. Rather than talking about the product, show it to him. If your site is not yet functional, show him a mockup. He likes entrepreneurs who are passionate about the product (e.g., Steve Jobs).

Brad tends to look at things from the point of view of the entrepreneur, in part because he has been one.

I suspect he is much less interested in financial projections than most VCs. I believe he will invest based on the market, the product and the team. If he likes these, he probably already has in his mind a financial model that will be more accurate than the one you have come up with.

Brad is a very active blogger (www.feld.com) and along with Fred Wilson (www.avc.com), he is one of the VC blogs you should definitely read. In particular, the series on VC term sheets he wrote with his partner should be read by every entrepreneur who is raising capital:

http://www.feld.com/wp/archives/2008/...

In November 2010, he and David Cohen released their book, Do More Faster, which is definitely worth reading:

http://www.amazon.com/Do-More-Faster-...

A few quirks:

1. He does not like his time wasted. If you meet with him, spend 15 seconds on introductions and then get to the point. See:

http://www.technologyreview.com/blog/...

Various posts about other VCs talk about how some VC spent 10 minutes talking about their car or their school or whatever. That will not happen with Brad, he will focus on you and your company.

2. He is not a big fan of the telephone:

http://www.feld.com/wp/archives/2010/...

My only interaction with Jason Mendelson has been several emails over the past few years, but my impression of him is also quite favorable. He has become Foundry Group's internal expert on "when should a startup operate in stealth mode and when should it actively seek publicity?"

PRIVATE: Members Only

4
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0
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Brad Feld

Fund: Foundry Group

Posted by johnmilton on 2010-11-15

PUBLIC:

Clearly Brad Feld has mastered the art of multi-tasking 47 hours worth of wotk into 28 minutes worth of time. I'm about to email him a Exec Summ that he *requested* after we'd exchanged a couple of short emails prompted by a blog he wrote. He seems (at least in the digital sphere) to be a genuine mensch.

PRIVATE: Members Only (305 Characters)

2
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0
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Good Pitch & Quick Process

Fund: Foundry Group

Posted by natd on 2010-10-11

PUBLIC:

I pitched Ryan from Foundry Group. Good meeting and feedback, efficient and timely process.

PRIVATE: Members Only

10
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0
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Brad Helps Me More Than My Current VC's

Fund: Foundry Group

Posted by eastcoaster on 2010-07-25

PUBLIC:

Brad took a look at our last round of financing. He loved our product but for various reasons couldn't get over the hump to invest.

Fast forward to now - I keep in touch with Brad - an I legitimately get MORE evangelizing and better contacts from Brad - who is NOT an investor - than from VCs who have major investments and board seats. Wow.

Brad and Foundry have a front row seat for whatever my next endeavor is - I can't imagine the level of support provided for a portfolio company if this is what I get with a NO.

PRIVATE: Members Only

11
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0
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Brad Feld: Private Investor

Fund: Foundry Group

Posted by Anonymous on 2008-10-04

PUBLIC:

Brad has been a private investor in our company for 18 months. He is extremely helpful and always focused on the company.

PRIVATE: Members Only